Hanoi (VNA) – Vietnam SocialSecurity (VSS) on October 24 held a dialogue on social insurance and health insurance policies with 130 Japanese-invested enterprises operating in the norওth of Vietnam.

The dialogue provided an opportunity for Japanesebusinesses to better grasp Vietnam's legal regulations on socialsecurity, social insurance, and health insurance, and a venue for Japaneseinvestors to voice their opinions to help improve policies onsocial insurance, hence facilitating stable business, long-term investment, and workers' rights inVietnam.

Speaking at the event, VSS Director GeneralNguyen The Manh said that as of September 2023, the agency is serving over 92million health insurance participants and 17.5 million social insuranceparticipants, accounting for nearly 40% of the workforce in Vietnam. 

Over 2,100 Japanese firms in Vietnam with547,100 employees including about 1,600 foreigners participate insocial insurance. Social insurance premiums paid by Japanese enterprisesaccounts for over 13% of the total ꦇcollection from FDI enterprises in Vietnam.

Manh said that during and after the COVID-19pandemic, despite difficulties, Japanese firmstook measures to stabilise production and retain workers,which made important contributions to the country’s socioeconomic recovery anddevelopment. “The majority of Japanese firms strictly followVietnam’s legal regulations, particularly those relating to social insuranceand health insurance,” he said.

Vietnam and Japan are preparing negotiations toward a bilateral agreement onsocial insurance. "This is a milestone between the two countries for cooperation on social security", he said.

Japanese Ambassador to Vietnam Yamada Takio emphasized that the relationship between the two countries has developed betterthan ever in the fields of politics, culture and economics.

A recent JETRO survey of parent companies inJapan shows that Vietnam is the second country after the US that Japanesebusinesses want to invest more💦 in. To large Japanese enterprises, Vietnam isthe first destination they want to invest in, he said.

The ambassador said that with increasing investment in Vietnam, Japanesecompanies are required to understand and implement the host country's socialinsurance regulations and policies.

As Vietnam is amending its Social InsuranceLaw, changes to Vietnam's social insurance system will have a huge impact oninvestment trends from Japanese companies. Therefore, the ambassador said thathe hopes those that compile the laws will listen to business opinions so the amendedlaw will meet the needs of both employers and employees.

On𒈔 this occasion, VSS launched the Japaneseversion of its app VssID which is expected to help Japanese employ𓃲ees in participating in social insurance and health insurance programmes./.